The Asset Management Corporation of Nigeria (AMCON) has announced the seizure of assets belonging to Jimoh Ibrahim, Chairman of Global Fleet Group, over debts valued at N69.4 billion.

This was disclosed in a statement by Jude Nwauzor, Head of Corporate Communication at AMCON. AMCON also revealed that Mr. Ibrahim had some of his accounts frozen.

Bank accounts belonging to Ibrahim and his companies, including Global Fleet Oil & Gas Limited and NICON Investment Limited were frozen.

Assets taken over by Pinheiro Legal Partners, AMCON’s debt recovery agent, include the building of NICON Investment Limited at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Limited building at Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja and the building of NICON Lekki Limited at No. 5, Customs Street, Lagos.

Others are the building of Abuja International Hotels Limited located at No. 3, Hospital Road, Lagos; another property at Plot 242, Muhammadu Buhari Way, Abuja; the former Allied Bank Building on Mile 2, Oshodi Express Way, Apapa Road, Lagos; Energy House located on No. 94, Awolowo Road, Ikoyi, Lagos; NICON Building at No. 40, Madeira Street, Maitama, Abuja; a Residential Apartment at Road 2, House A14, Victoria Garden City, Lagos; NICON Hotels Building at Plot 3, Road 3, Victoria Garden City, Lagos as well as the NICON Luxury Hotel Building, Garki I, FCT, Abuja.

The corporation revealed that a Federal High Court in Lagos gave the order to seize Mr. Ibrahim’s assets. AMCON’s debt recovery partner, Pinheiro Legal Partners, was responsible for seizing his assets after the order was given by Justice R.M. Aikawa. R.M. Aikawa, a justice of the Federal High Court in Lagos, also granted AMCON possession of all shares belonging to Ibrahim and his two companies that are domiciled in Nigerian Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited (NSL) and NICON Trustees Limited.

Jude Nwauzor also confirmed that all the assets that are listed by the court have been successfully taken over with the help of court bailiffs and officers and men of the Nigeria Police as mandated by the court.